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Search Results 0 to 18 of about 19 (some duplicates have been removed)
and services among consumers, they are chronically bad at creating a balance between deficit and surplus regions. a geographic problem, and intertemporal. remember -- if that comes first, suddenly the money lender who later becomes a banker who later becomes wall street plays a hugely significant role in this process. the banker is the conduit of that recycling mechanism. when they get an increase in proportion as the result of their mediation of that process. given that, a failure of the banker is not the same thing as the failure of a clothes maker. suddenly, there are two things that must happen. one, society will demand that banks are not allowed to go to the wall. then bankers are affectively given carte blanche, free money for themselves. and the whole mechanism breaks down like in 2008. it is often said in the eurozone, we made a huge error in europe of binding disparate economies by means of common currency. this is not the first time these if things that happened. it happened in the united states of america. you have disparate economies in the united states of america that are
deficit. >> hello, you're watching "al jazeera" live from doha. here are the top stories now -- crisis in the central african republic. the president calls for international help to fight rebel forces. >> five years after bhutto's assassination. the son makes his debut. >> u.s. lawmakers give thems a last chance to stop the falling off the fiscal cliff. it's no deal has been actually reached. budget cuts and tax hikes will tax place on january the 1st. >> president barack obama returned to washington deeply meyered in another partisan stalemate. but over in the capitol the lower house of congress remains dark to avert the fiscal cliff. it's republican leader will call the session on sunday. the top senate said his branch of congress must take the initiative on a compromise. >> it appears to me the action if there is any is now on the senate and we will have to see if we're able on a bipartisan to move forward. >> but the democrats say there can be no deal without republican concessions on tax increases. >> unless we get a sign-off from the republicans in the house, we can't get anythin
is still available for 2 million people and lay the groundwork for additional deficit reduction and economic growth steps to take in the new year. but let's not miss this deadline. >> we are working hard to get there in the next 24 hours. i'm hopeful and optimistic. >> whenever we come up with will be imperfect. some people will not like it, some people will like it less, but that is where we are. >> the democratic leader said it will prevent a tax hike on middle-class families are not up to a quarter million dollars. that condition, in line with obama's campaign pledge to raise taxes on the wealthiest 2% of taxpayers ought. it is a condition that so far is unacceptable to republicans want to extend current tax breaks regardless of income. the pressure will be elements of the house republicans to follow through. at this point, it is an open question. >>> at least six people in pakistan have been killed, dozens injured in an explosion in karachi. it ripped apart a bus parked on the road and a hotel was also damaged. they're still no word on what caused the explosion. the police s
of these politicians, mayors, governors should take a half cut pay to pay down the deficit. host: we are going to move on to darwin on the line for independents. caller: it is like the pentelikon, back in 1968 i was even fighting with the pentagon over budgets. you always had to have everything kept the same. nobody was going to change anything because next year there were going to pop everything by 10%. they told you got to worry because you would get 10% more. that goes all the way back to 1968. they just keep dwelling on one thing over and over again. i would like to know from the boston globe or the herald is asking for pictures of -- host: let's move on to del on the line for democrats. caller: this is an outrage that they cannot tax the wealthy by an additional 4%. this is the lowest tax rates that have ever paid in the united states. considering that their incomes are vast compared to what they used to be many years ago when they paid a much higher rate, they are wealthy and they do not want to pay. 4% does not amount to enough to affect the deficit. maybe we ought to consider 15% or something
taxation by using a flat tax. that way you can calculate the amount of taxes we need for the deficit over 10 years. another point is to control the spending on entitlements by not giving millionaires social security benefits, thereby satisfying president obama's approach. instead of doing it through taxation, he can do it through the entitlements. guest: those are both ideas that have been raised, especially the social security and medicare benefits for the wealthy and potentially might not need them to live off of. one tricky part of that is wealthier americans have been paying these taxes for decades into social security and medicare if and a lot of folks have a problem with the idea of taking away their benefits they have paid for if just because they happen to be more well off. and issued the first caller raised and something to watch is this could really sort of set the tone for the president's second term. if this thing gets ugly and stays ugly, it's probably going to stay that way at least another year or two, and the next thing you know, he's a lame duck president. if we cut a dea
trillion in deficit reduction. we need to stabilize the debt and work it down is a package of about $4 trillion over ten years. here we are today, december 19, and these law changes which i referenced earlier, the end of the bush era tax cuts, the dreaded sequester, across the board cuts of $1.2 trillion in spending will begin to take effect the first of next year. the good news is the white house and republicans have been trading proposals and at least yesterday appeared to be moving closer together. i would have much preferred that they would be talking about a bigger package than they've discussed but nonetheless to reach a package that would resolve some of these issues would be an important step forward and i think help promote certainty that would be important to our economy. on the revenue side of the equation, i just want to remind you what it's taken in the past to balance the budget. we hear talk on average revenue is in the 18% of g.d.p. range n. getting back to average you will should be sufficient. the problem with that is we have never balanced the budget in the last 50 y
with reducing the budget deficit and reducing public spending. we have too high level of public spending. and if you reach the level of taxes is too high. so the strategy of the government should be going forward, again, to cap public spending, reduce taxes, to create a favorable environment for corporate. and let me say that france has a lot of advantages. nice infrastructure, good infrastructure, demography, people with skills, a good level of education. we can take advantage of that, even compared with our peers so let's do everything we can to -- the benefit of these positive advantages and not be -- not present people to invest in france because they might be afraid of a lack of visibility on the taxpayers or too high taxes. >> but do you think it's sending the right signal to investors when it's threatening to nationalize a factory? >> no, certainly not. these are not the right ones and clearly what an investor needs is, again, confident. immediately going forward, illustrate will not suffer from taxes or a potential threat. the message should be positive for investors, not just fr
, as well. now, the government has been running huge deficits for a while. >> i still find it fascinating looking at the basis of the actual market. given as you say we're about to enter a recession again. you brought a very, very divided and different government scenario which hopefully will be sorted out. but whether or not the japanese underperformance on the nikkei is going to continue, as well, given the comments we've had about the stimulus will flow into the economy. >> the japanese economy is still or at least the large companies are still very export oriented. if the yen depreciate appreciations, that should improve the chances for japanese companies to gain market share all over the world and that should improve earnings prospect, too, and drive up shares. i see that quite simplistic and there is upside if the yen really tanks. of course, we have to keep the currency movements in mind if you're an international investor, of course, examine japan, of course, has a domestic economy, too, which is likely to remain quite weak. that is the down side, as well. all other things being a
serious about cutting the defsht and deficit? >> this is, look, this is the greatest irony of this entire discussion. and it is getting lost too much i think in the sometimes in the weeds of the back and forth negotiations. remember, the reason that we're doing this is because this grew out of the 2010 elections and debates over raising debt ceiling that following summer, 2011. the entire purpose was to reduce the size and scope of government in a way responsible to the voters of that midterm election. instead what we're almost certain to see is an expansion of government in the name of reintroducing it. we're likely to see much bigger government long term. we're not likely to deal with entitlement reforms as we need to do. as you suggest the president is pushing some short-term spending increases often in washington turn into long-term spending increases. gregg: but, steve, bill kristol, conservative, you know what, time to throw in the towel. you do not want to get blamed for raising taxes on 98% of americans. >> right. gregg: right? >> look, bill kristol is my boss and editor at "the w
into the situation we are in right now, with the huge debate over the size of the deficit and the debt? >> go back to 2001 and thereafter. the cost of the wars was not included in the budget. they were always supplemental. they did not show as a deficit. while the budgets looked reasonable during that time, the actual spending was greater. people did not pay as much attention to the debt. it just kept mounting and growing. we borrowed to pay for the worse when we did not ask people to make sacrifices financially. there is a difference between borrowing in the future, pang forward and backwards, or having to pay right now. people might have felt differently if they had felt a pinch right at the time. they would have asked different questions than were asked. that is one of the reasons we got where we are. >> could you have been any more vocal about appropriations? >> i was vocal. when i got on the appropriations committee, i became chairman of the legislative branch. that is everything, all of the buildings. office buildings, 1700 capitol police forces, and all of their help, support staff. i held
's the longer term federal deficit and then the shorter term impact on the economy. we'll have that first, right? the markets will go down and economic confidence will continue to slide. money will be taken out of the economy. so there's an economic impact right now. why should they deal with this crisis when the bigger crisis they couldn't come together tlen. sorry starbucks. they didn't come together before either. what do you do about deficits? the truth is doing nothing at this point is the best impact they can have on deficits, because taxes will go up, spending will go down. that's the point of this deal. so to come to your point, yeah, i guess they could suddenly hug each other and do had this dance, but the reality is there are a lot of people who think, what we are dealing with is deficits because the budget looks better and we'll deal with the economy some other way. >> doing nothing is what they do best. mike, before we let you go, ed mackey malden running for the united states senate in massachusetts. >> he's never run statewide. do you agree with this? i think scott brown is smiling
question, if i may, what kind of deficit reduction would this tax be able to provide for the people of france, if you incur 75% tax because you just happen to be a multi-millionaire? >> the thing about france is we're not the united states. we don't have that many multi-millionaires. it was actually really only going to affect 1500 people across the country. so it wasn't going to be very much. it was probably, if you're lucky, at best, $1 million. >> kelly: katherine field, thank you so much for joining us via phone and telling us about the deal in france. thank you. >> heather: back at home, hundreds of firefighters from across the u.s. and canada heading to western new york for second day for the wake and funeral services for these two fallen heros. the two volunteer firefighters were killed in a christmas eve ambush when they responded to a house fire and they were gunned down by 62-year-old william spangler. police also arresting 24-year-old dawn nguyen for illegally purchasing the gun that spangler used in that rampage. now the community of webster is stepping up to make sure t
kind of deficit the losers are facial as we go into the new year. "squawk on the street" is back in a minute. [ male announcer ] feeling like a shadow of your former self? c'mon, michael! get in the game! [ male announcer ] don't have the hops for hoops with your buddies? lost your appetite for romance? and your mood is on its way down. you might not just be getting older. you might have a treatable condition called low testosterone or low t. millions of men, forty-five or older, may have low t. so talk to your doctor about low t. hey, michael! [ male announcer ] and step out of the shadows. hi! how are you? [ male announcer ] learn more at isitlowt.com. [ laug hey! [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ]
of 2011. republicans demand the government reduce its deficit as a condition for raising the nations's debt ceiling. without a deal, the u.s. would lose its ability to borrow money. they deploy the tactics that nearly shut down the government and ultimaty cost america its aaa credit rating for the first time in history. in a last minute compromise, both sides agree to a trillion dollars in spending cuts up front and another $1.2 trillion in cuts to be decided by a special congressional super committee. a poison pill was attached. if the super committee can't reach a deal, automatic across the board cuts known as the sequester would go into effect starting january 2013. at the exact moment when the bush tax cuts extended for two years would expire. so the point is we could have seen this coming. we yelled at the top of our lungs that we were drowned out by the election. common sense often gets drowned out by seemingly endless and continuous elections in america. this time there may be a series price to pay for it. i will stay on top of this, but for now i'm out. same time tomorrow. li
cut the deficit budget. the court took issue with not with the tax, but taxing household equally. and for the latest headlines log onto foxnews.com. you're watching the most powerful name in news, fox news channel. >> paul: welcome back to this special he edition, journal he had t.editorial report. and this year continued high unemployment and slow economic growth. what can we expect in 2013? we're back with dan henninger, mary anastasia o'grady and dan moore. mary explain the slow growth and the markets. >> if respect to the markets, i would say if you look at a chart for, for example, the s&p 500, you go back to april of 2011 to october of 2012. you're basically flat. there's a lot of churning up and down, but in the last months a pickup there and certainly, from the end of -- from the beginning of this year we saw a run on the market, but you don't have a great return if you're a long-term investor. >> paul: right, so, okay, if growth is still slow, okay, why are-- and some people are still investing in companies and the corporate balance sheets earnings have been pretty good,
would certainly put on the table. those are the kinds of things. deficit and looming debt that we have been concerned about from the beginning that it would take for republicans to vote for then what the democrats are asking for which is some kind of tax increase on some high income level people and the extension of the unemployment insurance. we all want to do amt relief. we all want to do something that will help in cap gains and evidence. i think there are places where we are together and there are the fringes where we have to negotiate. dagen: are they giving a free pass because they are out there buying treasury debt? eventually, allowing you to not do anything. it is standing and ready and buying. >> i disagreed with what this ad is doing. it is one of those numbers things that we never really know what is really happening. we need to deal with overspending and too much debt in this country. that is where we are having the tension between the two parties. dagen: senator hutchinson, it was great to talk with you. thank you. some good news for you homeowners out there. we have had
't that much, especially when you consider the federal deficit is $16 trillion and climbing. to retire the debt, every single american would have to pay $50,000. but garcia says, you got to start somewhere. especially when washington won't. the partisan bickering has bothered him since -- >> 1992. >> reporter: that's when garcia first wrote his congressman, suggesting a formula to eliminate the death. the depression era kid and army veteran says he's giving back to a country that's given him so much. a sense that's infectious. his daughter is now collecting cabs at work. his grandson drives garcia to friends' houses, just to collect more cans. garcia knows that his monthly money orders won't avert the fiscal cliff, but his priest says that's not the message garcia's sending to congress. >> in order to really solve the $16 trillion national debt, you have to sacrifice. >> reporter: politicians talk about kicking the can down the road. one american has decided that road has to end, and it might as well be here. so if you want to be, like his granddaughter says, be like grandpa, you can google the
Search Results 0 to 18 of about 19 (some duplicates have been removed)